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MC Qu. 13-117 (Algo) A monopolistically competitive firm is operating... A monopolistically competitive firm is operating at a short-run level of output where price is

MC Qu. 13-117 (Algo) A monopolistically competitive firm is operating...

A monopolistically competitive firm is operating at a short-run level of output where price is $27, average total cost is $30, marginal cost is $25, and marginal revenue is $20. In the short run this firm should

Multiple Choice

decrease the level of output.
increase the level of output.
reduce product price.
not change the level of output.

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